Market Highlights:
The Global Biochips Market share held a market value of USD 7,300 million in 2017 and is projected to grow at a CAGR of 16.6% over the forecast period.
Growth Drivers and Challenges
Microfluidics and Microarray technology have revolutionized the field of scientific research by reducing costs as well as time required for conventional laboratory-based approach of research. Microfluidics provide various benefits like reduced assay costs owing to need for less amount of sample in nano-liter or pico liter volume, increased sensitivity, accuracy, and throughput as compared to traditional laboratory procedures and also reduced labor cost. The products that are based on DNA microarrays, lab-on-a-chip, protein chips, as well as organ-on-a-chip technologies have managed to alleviate the existing problems associated with time and costs in their respective fields. Also, the research and development activities are underway at present, regarding the microarray and microfluidic technologies for numerous applications. This factor will turn out to be a high point for the market growth in the coming years. For instance, in the year 2017, Griffith Institute for Drug Discovery (GRIDD) started the process of developing microfluidic platform to further decrease time and costs needed for research.
To sum it up, extensive research and development in the field is expected to eventually elevate the adoption rate of these technologies. Case in point is the successful demonstration by scientists at Harvard University, which used the paper and threads as an ideal option for cheap microfluidic devices. moreover, integrating electrodes and electrical textile valves into such devices will make it even more useful.
Regional Analysis:
Regionally, the global biochips market is split into the key regions of Europe, Asia Pacific, the Americas, along with the Middle East & Africa.
The biochips market, in the Americas, is flourishing in the regions of North America and South America, wherein the North America market is further split into the United States (US) and Canada. The humongous share belonging to the region can be credited to the expanding geriatric population; growing prevalence of lifestyle diseases like asthma, diabetes, and cardiac disorders; increasing adoption of biochips; and a substantial number of ongoing research activities and discoveries taking place related to biochips.
The Europe biochips market is divided into Western Europe and Eastern Europe. The Western Europe biochips market is spread across the countries of France, Germany, the United Kingdom (UK), Spain, Italy, and the rest of Western Europe.
The biochips market in Asia Pacific is thriving in the countries like India, China, Japan, Australia, South Korea, and the rest of Asia Pacific. Easy access to modern and latest technologies along with growing government initiatives and cost advantage of the technology is set to benefit the regional market to a large extent.
Lastly, the biochips market in the Middle East & Africa has is spread across the main regions of Middle East and Africa.
Market Segmentation:
The Global Biochips Market has been segmented into type, technology, and end user.
By type, the market has been segmented into DNA chips, lab-on-a-chip, protein chips, cell arrays, and tissue arrays. DNA chips is further segmented into gene expression, SNP genotyping, cancer diagnosis & treatment, genomics, drug discovery, agricultural biotechnology, and others. Lab-on-a-chip is further segmented into clinical diagnostics, genomics, IVD (In-Vitro Diagnostic) & POC (Point of care), Proteomics, Drug Discovery, and others. Protein chips is further segmented into proteomics, expression profiling, diagnostics, high-throughput screening, drug discovery, others.
Based on technology, the market has been segmented into microarrays and microfluidics.
The biochips market, by end user, has been segmented into biotechnology and pharmaceutical companies, hospitals and diagnostics centers, academic & research institutes, and others.
Key Players
Some of the prominent players in the global biochips market are Perkinelmer, Inc., Fluidigm Corporation, Agilent Technologies, Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., Cepheid Inc., Illumina, Inc., GE Healthcare, Thermo Fisher Scientific, Inc, Roche Diagnostics, and others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Email: sales@marketresearchfuture.com
